Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
General Discussions
The Watercooler
Bankruptcy??
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="klmno" data-source="post: 324349" data-attributes="member: 3699"><p>OK- thanks for the info! Since there is overwhelming knowledge here, maybe you can help steer me in a direction before I call people or start anything on Monday. If I can get a job by the first week in Jan, this can be worked out better, but let's assume I don't-just so I can plan for the worst. The foreclosure sell is set for mid-Jan, which would means I would be technically homeless (even if I put stuff in storage and go to my mother's- who is out of state and plans to put her house on the market). This could be an issue because without a verifiable home in this state, difficult child can't be released to me in Feb. If I'm out of state, say-living with my mom- they would have to do the whole interstate study just like if I was in HI, although it would be easier, but doesn't solve the problem of it being a temp solution and me still needing employment- and there is less available in my mother's area than here. Of course, it's better than "losing" difficult child and living on the streets, assuming my mother and I can survive each other and she doesn't kick me out.</p><p></p><p>So, I would like to handle this in a way where 1) if I get a job here within the next few weeks, I can work out things with creditors one way or another and hopefully being able to keep the house, at least for a while longer and selling it myself later; 2) I keep the door open to this job in HI because the job in HI is better than no job here, if I can still afford to get difficult child and myself there- (I thought about what the security agent said about getting the late payments put behind me and I researched this last night. She told me if I get documentation showing my financial situation had changed/improved to send it to her and she would reconsider.) Apparently, what stands in the way of the clearance when it comes to finances are A) is there a reason the person got in the situation or is it an irresponsible habit- clearly mine is a reason and can be proven not to be a habit, B) How has the person responded to the debt- are they trying to pay it back and have they worked with the creditors (this is where my hang-up is), and C) Is the amount of debt feasibly possible to pay back (this is a current problem too).</p><p></p><p>The 2-3 websites where I was reading about this said that bankruptcy is not a reason in itself to deny the clearance- it's obviously different if the person keeps going this route, but it is a legal "response" to debt. I don't want to put all my eggs in one basket, but I do have some money- just not a lot.</p><p></p><p>I'm wondering if I should try again to see if the CC companies will reduce the debt and commit to me paying just $150-$200/mo- which is obviously more than they''d get if I have nothing to give, then if they will, I could fax that agreement to HI. If I still don't get the clearance or a job somehwere else, then couldn't I still file for bankruptcy a month later or something? If I got a job here in the meantime, I could keep my commitment to pay that amount. Or, does the bankruptcy process take over a month, meaning I better file ASAP? Will it postpone the sell of the house? Whatever I do, I will fax it to this security person because I have absolutely nothing to lose bletting her know how I'm addressing it.</p><p></p><p>Also, I will do whatever I can to find even temp employment to get the foreclosure sell postponed until a couple of weeks after difficult child's release so I can stay in this state until after that. But, I can't be sure that I can make that happen.</p><p></p><p>This is all rumbling around in my head so I hope I'm writing it clearly. I guess I'm asking for suggestions about which route might postpone the foreclosure sell, reduce debt, and still keep a door slightly open for the clearance. (Or at least, which route keeps as many options open as possible without costing me $1000 or more.)</p><p></p><p>I have no tax issues or medication bills and the car is paid for. It is 2 CC companies, the primary mortgage (which is for about 60% of the assessed value of the home so hopefully would be more than covered by selling the home), and a HELOC (which would get any amount the house sold for over the amount of the 1st mortgage). So what paperwork is needed for bankruptcy?</p></blockquote><p></p>
[QUOTE="klmno, post: 324349, member: 3699"] OK- thanks for the info! Since there is overwhelming knowledge here, maybe you can help steer me in a direction before I call people or start anything on Monday. If I can get a job by the first week in Jan, this can be worked out better, but let's assume I don't-just so I can plan for the worst. The foreclosure sell is set for mid-Jan, which would means I would be technically homeless (even if I put stuff in storage and go to my mother's- who is out of state and plans to put her house on the market). This could be an issue because without a verifiable home in this state, difficult child can't be released to me in Feb. If I'm out of state, say-living with my mom- they would have to do the whole interstate study just like if I was in HI, although it would be easier, but doesn't solve the problem of it being a temp solution and me still needing employment- and there is less available in my mother's area than here. Of course, it's better than "losing" difficult child and living on the streets, assuming my mother and I can survive each other and she doesn't kick me out. So, I would like to handle this in a way where 1) if I get a job here within the next few weeks, I can work out things with creditors one way or another and hopefully being able to keep the house, at least for a while longer and selling it myself later; 2) I keep the door open to this job in HI because the job in HI is better than no job here, if I can still afford to get difficult child and myself there- (I thought about what the security agent said about getting the late payments put behind me and I researched this last night. She told me if I get documentation showing my financial situation had changed/improved to send it to her and she would reconsider.) Apparently, what stands in the way of the clearance when it comes to finances are A) is there a reason the person got in the situation or is it an irresponsible habit- clearly mine is a reason and can be proven not to be a habit, B) How has the person responded to the debt- are they trying to pay it back and have they worked with the creditors (this is where my hang-up is), and C) Is the amount of debt feasibly possible to pay back (this is a current problem too). The 2-3 websites where I was reading about this said that bankruptcy is not a reason in itself to deny the clearance- it's obviously different if the person keeps going this route, but it is a legal "response" to debt. I don't want to put all my eggs in one basket, but I do have some money- just not a lot. I'm wondering if I should try again to see if the CC companies will reduce the debt and commit to me paying just $150-$200/mo- which is obviously more than they''d get if I have nothing to give, then if they will, I could fax that agreement to HI. If I still don't get the clearance or a job somehwere else, then couldn't I still file for bankruptcy a month later or something? If I got a job here in the meantime, I could keep my commitment to pay that amount. Or, does the bankruptcy process take over a month, meaning I better file ASAP? Will it postpone the sell of the house? Whatever I do, I will fax it to this security person because I have absolutely nothing to lose bletting her know how I'm addressing it. Also, I will do whatever I can to find even temp employment to get the foreclosure sell postponed until a couple of weeks after difficult child's release so I can stay in this state until after that. But, I can't be sure that I can make that happen. This is all rumbling around in my head so I hope I'm writing it clearly. I guess I'm asking for suggestions about which route might postpone the foreclosure sell, reduce debt, and still keep a door slightly open for the clearance. (Or at least, which route keeps as many options open as possible without costing me $1000 or more.) I have no tax issues or medication bills and the car is paid for. It is 2 CC companies, the primary mortgage (which is for about 60% of the assessed value of the home so hopefully would be more than covered by selling the home), and a HELOC (which would get any amount the house sold for over the amount of the 1st mortgage). So what paperwork is needed for bankruptcy? [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
General Discussions
The Watercooler
Bankruptcy??
Top